Shark Tank Update
Shark Tank Pitch
The Bouqs Company Shark Tank Update
Published:
4m
Marina del Rey, CA
| Name | The Bouqs Company |
|---|---|
| Main Presenters | John Tabis |
| Presenter Image | |
| Product Image | |
| Last Known in Business | 2/12/2023 |
| Main Location | Marina del Rey, CA Loading Map |
| Order Shown in Episode | 1 |
| Final Deal | All Sharks went Out |
The Bouqs Company Shark Tank Pitch
John Tabis created a flower company that he feels is better executed than the competition. The Bouqs Company keeps all flower arrangements at one price of $40 and ships straight from the farm. John's co-founder, JP Montufar, has a background in biology and is currently operating the farm they are proud to say is next to a volcano.
John raised $13k from his friends and family ten months ago to start The Bouqs Company. Later John raised $1.1 million at a $5.2 million valuation. John is in the process of raising more money outside of Shark Tank. Sales since the start of the year have been $700k with projections of $1.2 million with a $250k profit by year-end. They have spent $70k on marketing. John plans to work with farms in California to meet the demand for overnight shipping.
What matters in business is cash flow. That's it.
The sharks find the flower business to have nothing unique, and John's ask outrageously high. Barbara also dislikes the name. All sharks go out.
Offers
| Made By | Label | Sharks Part of Deal | Summary |
|---|---|---|---|
| Company | Offered | $258k for 3% of company | |
| Sharks | Out | Mark Cuban | Out |
| Sharks | Out | Lori Greiner | Out |
| Sharks | Out | Robert Herjavec | Out |
| Sharks | Out | Barbara Corcoran | Out |
| Sharks | Out | Kevin O'Leary | Out |
Barbara Corcoran
Out
Mark Cuban
Out
Kevin O'Leary
Out
Lori Greiner
Out
Robert Herjavec
Out
Updates in Shark Tank Episodes
| Update Season | Update Episode |
|---|---|
| No Episode Updates | |
The Bouqs Company After Shark Tank
John Tabis went on the Founder Hour https://podcasts.apple.com/us/podcast/john-tabis-reinventing-the-floral-industry-with/id1308141699?i=1000582245229 podcast in 2022. Growing up in rural Pennsylvania gave John a respect for the outdoors. John's parents were school teachers, and he went to a good high school while playing competitive sports. John always used side projects as a creative outlet but was too risk-averse to pursue any fully. After school, John took jobs in different disciplines, such as consulting, which gave him a broad understanding of things. John felt limited in his work and knew he had to own the business to make decisions fully. John was in his early thirties and had just bought a house and had a baby with his wife.Link Preview
Founder Hour
John went on the The Wiz Bleier https://podcasts.apple.com/us/podcast/25-john-tabis/id1608692440?i=1000590443348 podcast in 2022. John and JP had met JP while at college at Notre Dame. They later reconnected and spent months doing market research. JP is from Ecuador and has industry knowledge about flower farming, while John has an overall business understanding. They didn't see a big player in the flower category and sought to become that. John assembled a team of people who met weekly to volunteer their time to build The Bouqs in hopes of future success and pay.Link Preview
The Wiz Bleier
John had permission from his employer to work on this project. A month before launching The Bouqs, John got laid off from his day job, so he did part-time consulting and raised investment money to draw a salary from the Bouqs. John and JP only tapped into about $5k of their $13k pooled together money because they raised more and did $2 million in revenue in the first year.
In season 9, we got an update that The Bouqs raised $1.7 million after Shark Tank. Three and half years after Shark Tank, The Bouqs reached $88 million in total revenue. John got a call from Robert Herjavec, who needed flowers for his wedding. After taking a second look, Robert invested in The Bouqs.
In 2022, The Bouqs Company had 50 farms and several retail locations. In 2020 John transitioned from CEO to Board Member of The Bouqs. Once the team grew from a small group to a large one, the job became more about managing people and processes and was not fun. John was investing in other start-ups in 2022 and teaching an entrepreneurship class at UCLA Anderson.
According to crunchbase.com https://www.crunchbase.com/organization/the-bouqs-company https://bouqs.com https://www.facebook.com/TheBouqsCo https://www.instagram.com/thebouqsco https://x.com/thebouqsco, as of 2023, The Bouqs has raised $88 million from investors. Their website is bouqs.com Link Preview
crunchbase.com . As of 2023 they are active on their Facebook Link Preview
bouqs.com , Instagram, @thebouqsco Link Preview
Facebook , and Twitter, @thebouqsco Link Preview
@thebouqsco .Link Preview
@thebouqsco
John Tabis keeps his LinkedIn https://www.linkedin.com/in/jtabis https://www.johntabis.com https://x.com/JohnGTabis up to date as of 2023. He has a personal website, johntabis.com Link Preview
LinkedIn , and stays active on his Twitter, @JohnGTabis Link Preview
johntabis.com .Link Preview
@JohnGTabis
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